Posts by: Guest 1
Re: Complex Comps - SHLD - EPS before vs after acctng change
Thank you very much.
Thank you very much.
RE: Is DCF a pre- or post-tax value?
Fair enough - hence the "art not science."
Fair enough - hence the "art not science."
about LBO
Hi, I know that this is not the forum for this question, but as my access to the Q&D LBO model course expired I cannot access that forum anymore, so I'm posting here. I was wondering if you can just shed me a light on how to adjust the S&U in an LBO model when not acquiring 100% of the ta... Read More
Hi, I know that this is not the forum for this question, but as my access to the Q&D LBO model course expired I cannot access that forum anymore, so I'm posting here. I was wondering if you can just shed me a light on how to adjust the S&U in an LBO model when not acquiring 100% of the ta... Read More
DDM is not used in practice?
Regarding page 22 slides, I wanted to clarify DDM is not used in practice (but is a mere theoretical PV concept)? Or is it used in practice if DPS makes up large % of EPS?
Package 1: Basic & Fundamental Concepts
Finance 101 - Introduction to Finance
Regarding page 22 slides, I wanted to clarify DDM is not used in practice (but is a mere theoretical PV concept)? Or is it used in practice if DPS makes up large % of EPS?
Package 1: Basic & Fundamental Concepts
Finance 101 - Introduction to Finance
Tr Comps overview questions
Hi there, A couple of doubts here on this module: (1). Why do we generally adjust the financials with the marginal tax rate? Any special reason / rationale to use marginal tax rate instead of effective tax rate for these adjustments? (2). Should we consider Preferred Stock within the "Total... Read More
Hi there, A couple of doubts here on this module: (1). Why do we generally adjust the financials with the marginal tax rate? Any special reason / rationale to use marginal tax rate instead of effective tax rate for these adjustments? (2). Should we consider Preferred Stock within the "Total... Read More
Gordon growth / growing perpetuity method used to value?
Regarding Valuation Exercise Handouts page 3, what is this: simple dcf: normalized fcff * (1+g) / (wacc-g)? Is this a simple valuation method that uses the constant growth / Gordon growth / growing perpetuity method, to value the TEV (vs Equity Value)? Also on next row on top, I see the DDM concept... Read More
Regarding Valuation Exercise Handouts page 3, what is this: simple dcf: normalized fcff * (1+g) / (wacc-g)? Is this a simple valuation method that uses the constant growth / Gordon growth / growing perpetuity method, to value the TEV (vs Equity Value)? Also on next row on top, I see the DDM concept... Read More
Calendarization
Hi, one quick question on calendarization: when calendarizing financials, should we match all other comparables year endings to our client / focus company (in this case, WMT) or adjust all companies in the model (inclusive of our client / focus company) to a December year ending (irrespective of our... Read More
Hi, one quick question on calendarization: when calendarizing financials, should we match all other comparables year endings to our client / focus company (in this case, WMT) or adjust all companies in the model (inclusive of our client / focus company) to a December year ending (irrespective of our... Read More
Re: The Financial Modeling Process
What you are saying makes sense to me. However, the difficulty I am having with the CFS results from the value of Net Income that is necessary to arrive at the CFO. In order to correctly compute CFO, Net Income has to equal 11,837. However, due to the fact that Interest Income and Interest Expense a... Read More
What you are saying makes sense to me. However, the difficulty I am having with the CFS results from the value of Net Income that is necessary to arrive at the CFO. In order to correctly compute CFO, Net Income has to equal 11,837. However, due to the fact that Interest Income and Interest Expense a... Read More
DCF analysis: net debt should be actual not est
Package 3 Advanced Financial Modeling DCF Analysis Regarding the debt & cash calcs, I believe cell A42 footnote (in the excel template) should say 1/31/2006 (= Actual 2005) – if so, is this a typo? Currently, the footnote states 1/31/2005 (= Actual 2004). In the 2005 diluted shares calc,... Read More
Package 3 Advanced Financial Modeling DCF Analysis Regarding the debt & cash calcs, I believe cell A42 footnote (in the excel template) should say 1/31/2006 (= Actual 2005) – if so, is this a typo? Currently, the footnote states 1/31/2005 (= Actual 2004). In the 2005 diluted shares calc,... Read More
I participated in the 2 day long University Bootcamp at my school. It was a valuable class, but the brevity of the program led some of us in the class to blindly follow the instructor at times. I am attempting to redo the WMT financial model on my own so that I can reinforce the skills I learned i... I participated in the 2 day long University Bootcamp at my school. It was a valuable class, but the brevity of the program led some of us in the class to blindly follow the instructor at times. I am attempting to redo the WMT financial model on my own so that I can reinforce the skills I learned in the class, but I am having trouble completing it.
After completing the BS and IS(excluding the debt sweep items) I am stuck on the CFS and the Debt Sweep. Net Income is the first line item in the CFS, but the number is incorrect because of the incomplete debt sweep line items from the IS, which makes the CFO incorrect as well. Consequently, I can't remember how we arrived at the Cash Available/(Required) Before Debt necessary to complete the circular reference of the financial model.
I need some guidance on what steps to take to properly complete the WMT template. Read More